Tassal receives major approvals for stage 3 expansion of Proserpine prawn farm - Sequoia Direct Pty Ltd

18OctOctober 18, 2019

Tassal receives major approvals for stage 3 expansion of Proserpine prawn farm

Tassal Group (ASX:TGR) has received the green light from the Whitsunday regional Council and Queensland State Government for the Company’s Stage 3 expansion plans for its prawn farm located near Proserpine.

Having received these approvals, Tassal says its prawn growth strategy continues to be on track.

The company can now commence construction of Stage 3 at Proserpine, adding 80 hectares of ponds and the new hatchery infrastructure, in readiness for stocking the expanded farm in FY21.

Tassal Managing Director & CEO Mark Ryan says with all major Stage 3 approvals received, the company can now commence investing $30 million to build 80 hectares of additional pond and new hatchery infrastructure for production next financial year.

The expansion will create 50 new jobs and support the company's target of generating $25 million in EBITDA from prawns in FY21.

Shares in Tassal (ASX:TGR) closed 1.92 per cent lower at $4.08 yesterday.
Copyright 2019 – Finance News Network

Source: Finance News Network

Related Posts

29AugAugust 29, 2019

Starpharma see positive results in ovarian cancer treatment

29 Aug 2019 - Starpharma (ASX:SPL) has seen positive results with targeted DEO using antibody fragment in human ovarian cancer model.

13JanJanuary 13, 2021

Newcrest Mining (ASX:NCM) approves funding for the Havieron Project

13 Jan 2021 - Newcrest Mining (ASX:NCM) has approved $146 million for the construction of the box cut, exploration decline and associated surface infrastructure at the Havieron Project in Western Australia.

30MarMarch 30, 2021

News Corp (ASX:NWS) to buy HMH Books & Media Segment

30 Mar 2021 - News Corp (ASX:NWS) entered into an agreement to acquire the Books & Media segment of Houghton Mifflin Harcourt.

26DecDecember 26, 2023

Hidden Gems 2023 Highlights: Consumer Discretionary

27 Dec 2023 - A selection of some of the Consumer Discretionary companies that presented in 2023.

13MarMarch 13, 2023

Stocks of the Hour: Neuren Pharmaceuticals, Metro Mining, Meteoric Resources

13 Mar 2023 - A snapshot of the stocks on the move featuring Neuren Pharmaceuticals (ASX:NEU), Metro Mining (ASX:MMI) and Meteoric Resources (ASX:MEI).

01JunJune 1, 2022

Stocks of the Hour: Mesoblast, Origin Energy & Greenvale Mining

01 Jun 2022 - A snapshot of the stocks on the move featuring Mesoblast (ASX:MSB), Origin Energy (ASX:ORG) & Greenvale Mining (ASX:GRV).

04MayMay 4, 2020

Westpac (ASX:WBC) defers dividend

04 May 2020 - Westpac (ASX:WBC) has deferred the decision on determining an interim dividend and no dividend will be paid in June 2020.

02JunJune 2, 2020

Iress (ASX:IRE) completes $150 million placement

02 Jun 2020 - Iress (ASX:IRE) has successfully completed a $150 million fully underwritten placement of approximately 14.4 million new fully paid ordinary shares to institutional and sophisticated investors at a price of $10.42 per Placement Share.

09AugAugust 9, 2024

Stocks of the Hour: Pointerra, EVZ, Sarytogan Graphite

09 Aug 2024 - A snapshot of the stocks on the move, featuring Pointerra (ASX:3DP), EVZ (ASX:EVZ) and Sarytogan Graphite (ASX:SGA).

10OctOctober 10, 2019

Sky Network Television (ASX:SKT) loses the broadcasting rights to Cricket NZ

10 Oct 2019 - Sky Network Television (ASX:SKT) in New Zealand has lost the broadcasting rights for Cricket New Zealand to Spark Sport from April next year.